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Petrobras begins binding phase for Papa-terra field sale

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Oilfield Technology,

Petrobras has started the binding phase referring to the sale of its entire stake at the Papa-terra field, located in deepwater in the Campos Basin.

Qualified parties for this phase will receive a process letter with instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

Papa-terra field is part of the BC-20 concession and is located at a water depth of 1200 m. The field started its operation in 2013 and its average oil and gas production in 2019 was 17 300 boe/d, through two platforms, P-61 type TLWP (Tension Leg Wellhead Platform) and P-63 type FPSO (Floating Production Storage and Offloading) where the entire production is processed. The P-61 counts with a chartered Tender Assist Drilling (TAD) rig.

Petrobras is the operator of the field, with 62.5% stake, in partnership with Chevron, which holds the remaining 37.5%.

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